Capital International Investors lowered its stake in STMicroelectronics (NYSE:STM - Free Report) by 97.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,844 shares of the semiconductor producer's stock after selling 2,792,142 shares during the period. Capital International Investors' holdings in STMicroelectronics were worth $1,969,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in STMicroelectronics by 81.4% in the 4th quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer's stock worth $30,000 after acquiring an additional 531 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in STMicroelectronics in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its holdings in STMicroelectronics by 225.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer's stock worth $33,000 after buying an additional 921 shares during the period. Rakuten Securities Inc. raised its position in STMicroelectronics by 197.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer's stock worth $44,000 after buying an additional 1,180 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in STMicroelectronics during the 4th quarter valued at approximately $53,000. 5.05% of the stock is currently owned by institutional investors and hedge funds.
STMicroelectronics Trading Down 0.2 %
Shares of STMicroelectronics stock traded down $0.05 during mid-day trading on Friday, hitting $23.29. The stock had a trading volume of 6,421,078 shares, compared to its average volume of 5,495,603. The firm has a 50-day moving average of $23.10 and a two-hundred day moving average of $24.74. The firm has a market cap of $20.92 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. The company has a quick ratio of 2.37, a current ratio of 3.11 and a debt-to-equity ratio of 0.11. STMicroelectronics has a 12-month low of $17.25 and a 12-month high of $45.39.
STMicroelectronics (NYSE:STM - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The semiconductor producer reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.55 billion. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Sell-side analysts forecast that STMicroelectronics will post 0.85 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on STM shares. Susquehanna decreased their target price on shares of STMicroelectronics from $33.00 to $28.00 and set a "positive" rating for the company in a research report on Friday, January 31st. Bank of America downgraded STMicroelectronics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of STMicroelectronics in a research report on Friday. TD Cowen lifted their target price on shares of STMicroelectronics from $18.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday. Finally, Morgan Stanley upgraded shares of STMicroelectronics from an "underweight" rating to an "equal weight" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, STMicroelectronics currently has an average rating of "Hold" and an average target price of $30.97.
Read Our Latest Stock Analysis on STM
STMicroelectronics Company Profile
(
Free Report)
STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.
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